1950_COMPANIES_ORDINANCE — Page 231

Companies.

[CAP. 32

(a) the purchase money is not fully paid at the date of the 4th Schedule.

issue of the prospectus;

(b) the purchase money is to be paid or satisfied wholly or in part out of the proceeds of the issue offered for sub- scription by the prospectus;

(c) the contract depends for its validity or fulfilment on the

result of that issue.

3. Where any property to be acquired by the company is to be taken on lease, this Schedule shall have effect as if the expression "vendor" included the lessor, and the expression "pur- chase money" included the consideration for the lease, and the expression "sub-purchaser" included a sub-lessee.

4. For the purposes of paragraph 8 of Part I of this Schedule where the vendors or any of them are a firm, the members of the firm shall not be treated as separate vendors.

5. If in the case of a company which has been carrying on business, or of a business which has been carried on for less than three years, the accounts of the company or business have only been made up in respect of two years or one year, Part II of this Schedule shall have effect as if references to two years or one year, as the case may be, were substituted for references to three years.

6. The expression "financial year" in Part II of this Schedule means the year in respect of which the accounts of the company or of the business, as the case may be, are made up, and where by reason of any alteration of the date on which the financial year of the company or business terminates the accounts of the company or business have been made up for a period greater or less than a year, that greater or less period shall for the purpose of the said Part of this Schedule be deemed to be a financial year.

-cont.

FIFTH SCHEDULE.

[s. 43.]

FORM OF STATEMENT IN LIEU OF PROSPECTUS TO BE DELIVERED TO REGISTRAR BY A COMPANY WHICH DOES NOT ISSUE A PROSPECTUS OR WHICH DOES NOT GO TO ALLOTMENT ON A PROSPECTUS ISSUED.

COMPANIES ORDINANCE.

(Chapter 32 of the Revised Edition)

Statement in lieu of Prospectus delivered for registration by

[Insert the name of the company.]

Pursuant to section 43 of the Companies Ordinance.

Delivered for registration by

The nominal share capital of

the

Company.

Divided into

Shares of $

each.

"

"}

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